All Forum Posts by: Tom C

Yes, they are existing tenants that are coming into a little bit of cash.

Princess? Come on, can you be anymore condescending? I don't have a "Princess" I have a wife who is a nurse that works her butt off at the hospital at night and then helps me rehab homes on the side.

thanks for the advice..

I have a tenant who wants to pay in advance for the remainder of the year.

Help me see some of the bad points in accepting this money upfront.

The reason they want to do this is because they are irresponsible and can't hold on to their money.

I understand.. Thanks Jon

In my area the landlord pays the water when it is multifamily and one meter or when the landlord does not have a dwelling permit and doesn't want the city to find out that they renting the place without one. In order for a tenant to get the water put in their name, they must show a lease agreement, then the water dept checks for a dwelling permit, if there isn't one, they contact the health dept and all hell breaks loose.

Bump..

Dave DiBello [[email protected]]

Ok, but if he is partial owner would his lets say 6 or 7% per month of the rents, then also stop when rent stops during down times? And I assuming that the monthly rents would be based on after T&I is paid? Then what about continued maintance? If I have to put $2,000 into a furnace one month, then how does this factor into his cut?

I have a friend that wants to get involved on my next deal and I could use his cash. The total purchase cost is 15,5. Rehab and holding cost 4K. So total required funds 20K. After rehab monthly rents will be $600.00 per month.

The problem I am having trying to get him involved is that he really wants to be partial owner on the property; however, I have done all the work, rehab, and continued maint and management of the property. Due to his location, he will not be able to handle management. So basically he will be a silent partner.

Anyone have any idea's on what kind of deal can I put together that will give him a monthly income from the property, while still making it worth wild for me?

Well the contract came in today.. I offically bought $29,9 for $14,0. Amazing..

crpell,

I am also from the country and hate the city. Your best bet is to take a drive on a nice warm night in the area that you want to invest in. Stop the car and roll the windows down. You can tell a lot just by the sounds of the neighborhood at night if it's a place you will want to work in..

strive,

No reason to applogize, I just like to keep my fishing holes to myself.

Sorry Strive,

There is a reason that the address is blocked out. The last thing I need is more competition from investors.